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Category - Customer service

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1
Managing a Mature Business – Marketing For Continued Growth
2
The Right Way To Reduce Business Costs
3
Planning – Where Do You Want To Go?
4
Why Customer Service Systems Are Better Than Maple Syrup On Warm Pancakes
5
6 Key Must-Haves In Your Business

Managing a Mature Business – Marketing For Continued Growth

Welcome to our continuing series on Managing a Mature Business.

Last year we published two series of articles on Starting a Small Business, and on Growing Your Business, and we started this current series on Managing a Mature Business. We finished the year with Managing a Mature Business – How to Keep Innovating and in this article, we move on to discuss how to market for continued growth. If you want to catch up, all the articles in all three series are available at Teik Oh Dot Com.

As we have seen before, the challenges in a mature business are different from those of a business startup or a growing business. Activity has plateaued. Your product may have been superseded nor the market may have changed. Following our earlier articles on managing cash flow and continuing to innovate, you may have changed your product or business model and have to attract a new target market.

As you try to reinvent yourself so that you can start the cycle again with a new growth phase, you can no longer rely on past reputations and previous histories with your old customers. Even if you are continuing your marketing activities – these may need to change.

So, what do you have to do to continue effective marketing for continued growth?

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The Right Way To Reduce Business Costs

When I was learning how to be an auditor, one of my early mentors told me: “There’s the wrong way to do the wrong thing, the right way to do the wrong thing, the wrong way to do the right thing, and finally the right way to do the right thing. As an auditor, you’re always looking for the wrong ways as well as the wrong things!”

I had to think about that.

But he was right. You shouldn’t ever do the wrong thing, whatever way you try to do it.

It’s also equally wrong to try to do the right thing in the wrong way.

All this is a long way of saying that when times are tough and we try to cut costs in our business – which is the right thing to do – some of us go about doing it in the wrong way.

Let’s look at how to reduce the costs of running your business, in the right way.

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Planning – Where Do You Want To Go?

The first stage of any planning exercise is to define where you want to go.

Imagine starting on a journey to visit mum without knowing where she was? Imagine getting on a plane to go on holiday without knowing where the plane was going?

Without knowing where you want to go, you cannot take steps to get you there.

Obviously, it is the same in Business Planning. In order to know what to do to make your business grow and be successful, you need to decide what you want the business to be like when it is successful.

This week, I’m going to show you how to do that in your Business Planning process.

The clearest way to define what your business will be like when it is successful is to create a Vision Statement and define it for measures of success.

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Why Customer Service Systems Are Better Than Maple Syrup On Warm Pancakes

We had a cold, wet and stormy winter this year and I spent the whole winter wanting to go somewhere dry and warm!

But if that was not to be, then I hankered for some comfort food – and what’s more comforting than a plate stacked with warm, soft pancakes drizzled, nay, swimming, in maple syrup?

Have I got your attention now? Feel the warmth and the love? Well, that’s how a really good customer service system makes me feel because a good one can wrap itself around your customers and make them feel like they are eating a big plate of lovely warm pancakes and spoonfuls of maple syrup!

It’s all about having a system. In fact, I have a free eBook on How To Create Your Self-Running Business by creating a systems-based business that you can get here.

Let’s see how a customer service system can be better than maple syrup on warm pancakes.

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6 Key Must-Haves In Your Business

When you are starting a business, or even as you grow it from the start and enter into a steady period of consolidation and wish to review your performance, it is useful to take a step back from the nuts and bolts of starting or running your business and consider what makes up a business.

Sure, you must have (hopefully) a great product or service and you must have customers.

But what makes up a successful business? What are the key ingredients you must have?

I created Teik Oh Dot Com in order to help small business owners implement these key ingredients that together make up a successful business, to be the small business owner’s one place to go to in order to find the practical processes to improve their business and become successful. You can subscribe to get these free tools and resources delivered directly to you by clicking on this link and signing up.

Importantly, I believe that when you start your business, you need to focus on six key must-haves in your business to set you up for success.

So let’s dive into the 6 key must-haves in your business.

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